Data Image Group Ltd - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 03600647 (England and Wales)

Abbreviated Accounts for the Year Ended 31 March 2014

for

Data Image Group Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A E Farfort

R M Farfort

Mrs J Farfort

REGISTERED OFFICE:

3 Darby Way

Narborough

Leicester

Leicestershire

LE19 2GP

REGISTERED NUMBER:

03600647 (England and Wales)

ACCOUNTANTS:

MulliganWilliams

4 Long Street

Stoney Stanton

LEICESTER

LE9 4DQ

FIXED ASSETS

Intangible assets

2

270,000

292,500

Tangible assets

3

815,228

1,126,219

1,085,228

1,418,719

CURRENT ASSETS

Stocks

110,322

100,177

Debtors

1,402,252

1,485,531

Cash at bank and in hand

907,246

490,031

2,419,820

2,075,739

CREDITORS

Amounts falling due within one year

1,060,453

1,097,197

NET CURRENT ASSETS

1,359,367

978,542

TOTAL ASSETS LESS CURRENT LIABILITIES

2,444,595

2,397,261

CREDITORS

Amounts falling due after more than one year

306,264

476,748

NET ASSETS

2,138,331

1,920,513

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

2,138,231

1,920,413

SHAREHOLDERS' FUNDS

2,138,331

1,920,513

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 17 October 2014 and were signed on its behalf by:

A E Farfort - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to leasehold property

-

10% on cost

Computers & equipment

-

25% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

450,000

AMORTISATION

At 1 April 2013

157,500

Amortisation for year

22,500

At 31 March 2014

180,000

NET BOOK VALUE

At 31 March 2014

270,000

At 31 March 2013

292,500

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

2,827,258

Additions

199,728

Disposals

(736,103

)

At 31 March 2014

2,290,883

DEPRECIATION

At 1 April 2013

1,701,039

Charge for year

510,719

Eliminated on disposal

(736,103

)

At 31 March 2014

1,475,655

NET BOOK VALUE

At 31 March 2014

815,228

At 31 March 2013

1,126,219

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

£

100

Ordinary

£1

100

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the start of the year Mr A Farfort had a loan account balance of £69,127 in hand. During the year he was

advanced £77,225 and credited £82,000, with a balance of £73,902 in hand at the year end.

At the start of the year Mr R Farfort had a loan account balance of £nil. During the year he was advanced

£162,640 and credited £165,772, with a balance of £3,132 at the year end.

At the start of the year Mrs J Farfort had a loan account balance of £68,068 in hand. During the year she was

advanced £75,053, and credited £82,000, with a balance of £75,015 in hand at the year end.